You Get What You Pay For: Two Decades of Lessons

The adage holds in a city where every square foot commands a premium: you get what you pay for. After twenty years of navigating the intricate terrain of New York City real estate, one reality remains indisputable—short-term savings often lead to long-term regrets. Whether buying, selling, or investing, the difference between a good decision and an expensive mistake usually comes from quality, expertise, and foresight.

The Mirage of a Bargain

Manhattan and Brooklyn are full of seemingly irresistible deals: a high-floor condo listed well below market value, a prewar co-op touting astonishingly low maintenance, or a brownstone brimming with “unlimited potential.” The uninitiated may see an opportunity. The seasoned know to ask: why?

A below-market apartment in a neglected building often hides many problems—a crumbling facade, a dwindling reserve fund, an aging roof, or a looming assessment that could add thousands to monthly costs. A budget-friendly unit may be costly when major renovations or a weak board’s mismanagement come to light. A deal that seems too good to be actual almost always is in real estate.

The Price of Skipping Expertise

Technology has made it easier than ever to browse listings, but no search algorithm can replace the insight of an experienced broker. A property’s worth is more than its price per square foot—it’s in the quality of its construction, the solvency of its building’s finances, the trajectory of its neighborhood, and the nuances of its floor plan. An agent with deep market knowledge sees beyond the listing photos, guiding buyers away from potential pitfalls and toward homes with enduring value.

Sellers, too, benefit from expertise. A well-connected agent not only prices a home correctly but crafts a marketing strategy to attract the right buyers positions the property to maximize demand and negotiates a final sale price that justifies the commission. Those who opt for discount brokers often find their properties languishing on the market, selling for less than what a full-service approach might have yielded.

The Real Estate Broker vs. The Discount Broker

Full-service real estate brokers bring more than just listings—they bring relationships, market intelligence, and a refined approach honed over years of transactions. A seasoned broker can assess demand, read market conditions, and anticipate shifts before they appear in quarterly reports. They negotiate with an understanding of both leverage and psychology, ensuring their client’s best interests are protected.

Discount brokers, in contrast, promise lower fees but often at the expense of service, marketing, and negotiation expertise. While an online listing and automated valuation tools may offer a baseline, they cannot replace the strategic guidance of a seasoned professional. Sellers who opt for cut-rate commissions frequently discover that savings on fees are negated by lower sale prices, prolonged time on the market, or deals that fall through due to oversight in due diligence.

Some buyers and sellers have the experience and skill to navigate the market independently. Those well-versed in real estate trends, pricing, and negotiation may not need the full service of an expert broker. However, for the vast majority, the cost of making a misstep in a market as complex as New York’s far outweighs the savings of a lower commission.

Architecture, Craftsmanship, and the Price of Cutting Corners

The past two decades have seen an explosion of new development across New York City, but not all buildings are created equal. The difference between high-end construction and cost-cutting is often evident not at first glance but over time. Buyers drawn to glossy brochures and sleek amenities sometimes later contend with poor soundproofing, drafty windows, or escalating maintenance fees due to developer shortcuts.

By contrast, prewar apartments with thick plaster walls, solid oak floors, and original moldings have stood the test of time. A well-maintained building with a substantial reserve fund and diligent management is an asset that I appreciate. In a market where quality endures, those prioritizing craftsmanship over flash possess properties that hold—and grow—their value.

Beyond the Listing: What Only an Experienced Eye Can See

A well-priced apartment is one thing. A well-lived-in apartment is another. A seasoned broker can walk into a space and gauge whether it has been well-maintained or if a gut renovation is inevitable. They can detect ventilation issues, assess whether a building is well-run, and notice telltale signs of a poorly managed co-op or condo. They can smell mold in an apartment with hidden moisture issues, sense airflow problems that might make summers unbearable, and recognize when a building’s curb appeal hints at more profound neglect.

More importantly, an experienced agent understands trends before they happen. A shifting demographic, an overlooked pocket poised for transformation, an aging building whose inevitable decline will soon affect values—these are insights that an algorithm cannot calculate but a human, immersed in the market, will anticipate.

The Market Has Matured

Gea Elika, founder of ELIKA Real Estate, says, “When I first started in real estate, New York City had more land and room for growth. It is now a mature market, and the timing of the market is essentially gone unless you are playing with currency as an investor. If you’re buying a home, it is harder to find a great one—more so than ever.”

This maturity means opportunities still exist but require more profound knowledge and sharper instincts. Unlike in decades past, when an underpriced neighborhood could be spotted by tracking new subway extensions or restaurant openings, today’s market moves subtly. Identifying long-term value requires not just data but lived experience. Furthermore, the past decade has seen more moderate appreciation in the NYC real estate market than previous booms. While the overall market has seen more modest gains, exceptional properties with unique features, prime locations, or superior construction have consistently outperformed, demonstrating the true essence of NYC real estate in 2025 and beyond.

The Intuition of an Experienced Agent

While data and metrics play a role in real estate, they do not tell the whole story. A seasoned agent brings an instinct honed over years of transactions—an ability to recognize the unspoken signs of a property’s potential or hidden risks. They can gauge the demand for a home based on subtle indicators: the energy of an open house, the nature of inquiries from prospective buyers, and even the tone of a seller’s agent in negotiations.

Experienced agents offer more than property searches for buyers—they provide perspective. They can walk into an apartment and instantly understand if its layout will feel natural if its light exposure will make it inviting, or if the level of craftsmanship justifies the asking price. Recognizing quality materials is essential by name, touch, and durability. They also anticipate how an apartment will age—whether finishes will wear well or if trendy design choices will become liabilities over time.

For sellers, an intuitive agent knows when to push and when to wait. They sense when a market shift is coming, when to hold firm on price, and when to leverage demand to secure the best possible deal.

Bottom Line: Experience Pays Dividends

Real estate is more than numbers—it’s about understanding people, properties, and the market’s ever-evolving landscape. If you are buying, selling, or investing in New York City, take the time to work with an experienced broker, do your due diligence, and prioritize long-term value over short-term savings. Expertise isn’t just an advantage in a city where every transaction carries high stakes. It’s a necessity.